The S&P 500 (SPX) climbed to a new intraday high on Thursday, although the index ended up finishing the day in the red.
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Forget margin or options. Here's how the pros trade QQQLet’s break down the sectors behind the performance.
Today’s Top-Performing Sector
Information technology was the top-performing sector on Thursday as a stronger-than-expected earnings report from Datadog (DDOG) breathed life back into the sector and alleviated fears of AI disruption. In addition, strength across cybersecurity and enterprise software names helped lift sentiment as investors shifted capital into high-growth names.
Several information technology stocks led the sector’s gains, including:
Today’s Worst-Performing Sector
Meanwhile, the materials sector faced the largest drawdown. The weakness came as materials names tracked softer commodity prices, with a stronger U.S. dollar and ongoing uncertainty around global demand weighing on the sector. The pullback also reflected a broader rotation out of cyclicals as investors shifted toward growth and technology stocks.
Notable materials stocks trading lower include: